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Cybercrime is a constantly evolving threat to businesses, and the latest data shows that emails are now among the preferred methods for accessing confidential information.
The key to preparing for these threats is understanding the methods cybercriminals currently use to steal data from unsuspecting companies through emails.
These methods primarily aim to steal your user credentials and use them to access business-sensitive data.
This is known as credential harvesting, and throughout 2023, 41% of security breaches were attributed to it.
Businesses must therefore adopt a zero-trust approach to their email security, limiting the amount of access a cybercriminal has to their systems after a successful credential harvesting attack.
A zero-trust approach is simply adopting a “never trust, always verify” mindset to security, ensuring that each employee only has the bare minimum access to company resources.
The threat of evolving malware
It is also important to understand the types of malware that are prevalent in modern cybercrime: Fileless, Novel, and Dormant.
Each type saw considerable increases in use in 2023 and poses a unique threat to unprepared businesses and employees.
Fileless malware enables sophisticated attacks that manipulate legitimate system processes to execute their purpose, allowing it to go unnoticed by traditional detection tools.
This has proven so effective that 2023 saw a 1,400% increase in Fileless attacks.
Novel malware refers to the appearance of new malware variants made in response to improving security.
These constantly evolving forms of malware make creating effective detection and prevention systems problematic.
According to the AV-TEST Institute, over 450,000 novel malware variants were reported in 2023, each designed to exploit new weaknesses.
Dormant malware presents a unique threat as it’s designed to stay hidden within your system until a certain event triggers it.
These events can include user behaviour, a set time, or changes in network conditions.
Due to how long this malware can remain undetected, dormant malware represents an ongoing threat to any company’s security systems.
Business Email Compromise (BEC)
Alongside these three malware types, BEC is a major threat to your business’s security.
It involves fraudsters impersonating trusted contacts to trick employees into making costly mistakes.
These attacks use social engineering to avoid traditional technical safeguards and are extremely difficult to detect using standard methods.
Altron Arrow
Altorn Arrow is the ideal partner for South African businesses looking to improve their email security.
Its cybersecurity solutions provide innovative solutions to modern threats, and through its partnerships with leading security brands like OPSWAT, it is well-equipped to help your business stay safe digitally.
Contact Altron Arrow Business Development Manager Nkateko Malindi to learn more.
source:Email security – Everything you need to know to protect against cyber attacks (mybroadband.co.za)
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